Differences between HRM strategy formulation & implementation

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Content: Differences Between HRM Strategy Formulation & Implementation HUMAN RESOURCE MANAGEMENT in HOSPITALITY & TOURISM Instructor: Doris GallanTeaching Aides: Minh Tai – Duc HieuGroup 1 – K16DLK 1. Vo phan tra my2. Dang thu ha3. Huynh dac trung4. Le dieu ngan5. Tran vu Strategy Formulation: is an organization's process of defining it's strategy, or direction, and making decisions on allocating it's resources to pursue this strategy. Strategy Implementation: is the translation of chosen strategy into organizational action so as to achieve strategic goals and objectives. Following are the main differences: Strategy Formulation 1. includes planning & decision-making involved in developing organization’s strategic goals and plans. 2. In short-term, it’splacing the Forces before the action. 3. is anEntrepreneurial Activitybased on strategic decision-making. 4. is arational process. 5. requires co-ordination among few individuals. 6. requires a great deal of initiative and logical skills. 7. Strategic Formulation precedes Strategy Implementation Strategic human resource management (SHRM) may be regarded as an approach to the management of human resources that provides a strategic framework to support long-term business goals and outcomes. The approach is concerned with longer-term people issues and macro-concerns about structure, quality, culture, values, commitment and matching resources to future need. Strategy Implementation 1. involves all those means related to executing the strategic plans.2. In short-term, it’s managing forces during the action. 3. is mainly an Administrative Task based on strategic and operational decisions.4. is basically an operational process. 5. requires co-ordination among many individuals. 6. requires specific motivational and leadership traits. 7. STrategy Implementation follows Strategy Formulation. Bí Rôi` THE END STRATEGY FORMULATION STRATEGY IMPLEMENTATION Conclusion: Ideally HR & top management work together to formulate the company's overall business strategy; that strategy then provides the framework within which HR activities such as recruiting & appraising must be crafted. If it is done successfully, it should result out in the employee competencies & behavior that in turn should help the business implement its strategies & realize its goals. Conclusion: In order to be successful the employees should be developed in such a manner that they can be the competitive advantage, & for this the human resource management must be an equal partner in both the formulation & the implementation of the corporate & competitive strategies. THE END! THANKS FOR LISTENING Five major components of the strategic management process an relevant to strategy formulation after an orangnization has chose its strategy , it has to execute that strategy - make it come to life in its day to day working BANYAN TREE MISSION STATEMENT - We want to build a globally recognized brand

- Which by inspiring exceptional experiences among our guests

- Instilling pride and integrity in our associates

- Enhancing both physical and human enviroment in which we operate

- Will deliver attractive returns to our shareholder We welcome change and encourage new ideas, are constantly open to new opportunities, and adapt to our environments and available resources to turn situations to our advantage.

We appreciate and celebrate difference, with the philosophy that difference and its recognition fosters mutual respect, enriching development in all areas.

We hold ourselves accountable to our guests, associates, colleagues, shareholders, and to the physical and human environments in which we operate, and deliver what we promise.

We encourage continual and lifelong learning, harnessing talent and prioritizing people development, towards work-life quality. Strategy Implementation We believe that collective success is far superior to that of any individual’s; a spirit of collaboration is core to our business composition and global success. strategic Implementation strategy implementation